SPS COMMERCE INC — Director's Dealing 2020

May 11, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SPS COMMERCE INC (SPSC)
CIK: 0001092699
Period of Report: 2020-05-07

Reporting Person: Frome James J. (EVP & Chief Operating Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-07	Common Stock	M	1300	$32.98	Acquired	43733	Direct
2020-05-07	Common Stock	M	2000	$33.55	Acquired	45733	Direct
2020-05-07	Common Stock	S	3300	$60.0603	Disposed	42433	Direct
2020-05-08	Common Stock	M	500	$33.55	Acquired	42933	Direct
2020-05-08	Common Stock	S	500	$60.012	Disposed	42433	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-05-07	Employee Stock Option (right to buy)	$32.98	M	1300	Disposed	2024-02-10	Common Stock (1300)	Direct
2020-05-07	Employee Stock Option (right to buy)	$33.55	M	2000	Disposed	2022-02-09	Common Stock (2000)	Direct
2020-05-08	Employee Stock Option (right to buy)	$33.55	M	500	Disposed	2022-02-09	Common Stock (500)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	230.526	Indirect

Footnotes

F1: Stock option exercises and sales effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 27, 2019, and modified on March 4, 2020.

F2: Reflects the weighted average price of 3,300 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on May 7, 2020 with sales prices ranging from $60.00 to $60.215 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.

F3: Reflects the weighted average price of 500 shares of Common Stock of the Issuer sold by the reporting person in multiple transactions on May 8, 2020 with sales prices ranging from $60.00 to $60.04 per share. The reporting person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares purchased or sold at each separate price.

F4: Fully vested.